Ann: Pilbara strategy and exploration update, page-2

HIGHLIGHTS
• Company planning to advance Arrow (Au) and Mt Sholl (Ni-CuPGE) as key strategic projects over the following 2 years
• Program of Work (POW) for drilling Arrow has been approved
by the DMIRS
• Drilling contractors engaged to tender on initial 5,000m RC
program to test initial targets at Arrow
• Recent work at Mt Sholl has demonstrated potential for further
mineralisation outside of known mineralisation envelopes and
which remains untested - permitting for drilling commenced
• Company evaluating divestment options of segments of the
Pilbara portfolio, with the aim to maximise value over entire
portfolio and allow Company to focus on aggressive multiphase drilling programs at Arrow and Mt Sholl
• Further advanced acquisitions in vicinity of Arrow and Mt Sholl
under consideration; negotiations and evaluations ongoing
• Management has been undertaking a strategic evaluation of its
Balkan portfolio, with the objective to rapidly optimise upside
for shareholders. An update to the market will be provided
shortly.